The global financial and economic turmoil has caused many worlds’ High Net Worth Individuals, wealth managers and private bankers to look for alternative but trusted, well-established and less volatile jurisdictions.
Having sensed that concern for diversification and recognizing that the rapid changes in the wealth management industry mean constant innovation and optimisation of its product offerings, Mauritius has been proactive in furthering its position as a wealth management centre of choice for this part of the world.
To this end, a new Foundations Act 2012 (the “Act”) has been enacted on 1st July 2012, thus bringing Mauritius at par with many competing jurisdictions including Jersey, Liechtenstein, Panama and Seychelles to mention but a few. This has reinforced our position as a proven centre for wealth management, estate and tax planning, asset protection, segregation of assets and registration of charities destination in countries based on the civil law system, like France and the USA.
It may also, upon application to the Financial Services Commission of Mauritius, hold a global business licence and may elect to be tax resident in Mauritius to benefit from the network of tax treaties which Mauritius has with 40 countries.